China’s largest EAF steelmaker- Shagang steel slashes scrap purchase price by RMB 30/t ($4) for all grades, reliable sources reported to SteelMint. According to today’s revision scrap price for HMS (6-10 mm) stands at RMB 3,220/t ($497), inclusive of 13% VAT, delivered to headquarters. Limited buying ahead of holidays and decline in global scrap prices have resulted in price cut.
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